September’s home sales were up 14.3 per cent compared to last year in Kitchener-Waterloo, marking a new record high for the month,according to the Kitchener-Waterloo Association of Realtors.
In a press release, Lynn Bebenek, President of KWAR said the higher pricing of homes contributed to an 8.8 per cent increase in the average price of a detached home, to $385,780 when compared to September 2013.
“We continue to see evidence that the traditional spring market was pushed into the summer months because of the brutal winter weather we experienced earlier in the year,” said Bebenek.
The average price for a condominium, $233,321, increased 4.8 per cent this year.
“As the Waterloo Region area continues to grow, the real estate market continues to be strong and healthy,” said Bebenek.
“September’s strong showing of home sales follows a slower than usual spring market and picks up on what was a very active August,” she said.
According to the KWAR, in September residential sales included 359 single detached homes (up 15.1 per cent from last September), 48 semi-detached (up 6.7 per cent), 35 townhomes (on par with last year) and 108 condominium units (up 27.1 per cent) in Kitchener and Waterloo.
